Mediating Role of Perceived Risk on Relationship Between Perception Towards Online Luxury Shopping and Online Purchase Intention: A Study with Reference to Young Professionals in India
Author : Jithin Benedict and M. S. RajuVolume 8 No.1 Special Issue:February 2019 pp 36-41
Abstract
To many people, luxury products were once considered hard to access and a privilege to use. Luxury used to mean a product or service only accessible by a small group of people, a product or service that was scarce (Nueno & Quelceh, 1998). However, luxury products have now become more affordable to more consumers, especially for consumers from the middle class who access more money than ever before (Hauck & Stanforth, 2007). These “newcomers” do not fall into the traditional wealthy income segment; they start purchasing luxury at a younger age compared to their parents (Jay, 2012). In recent times, demand for luxury brands is spurred by digitalization. Digital platform are increasingly used by the retailers to provide ease of shopping and to extend their reachability among the customers. According to Assocham (2018) study the online luxury stores will see an influx of 44 billion dollars in 2019 and by 2020 the study foresees the market to get doubled. The study attempts to understand the relationship between perceptions of young working professionals of India towards personal luxury goods and their purchase intention. Further study delves to understand the mediating role of perceived risk of shopping luxury goods online. Structured questionnaire was framed and respondents of the age group 18 to 35 who has shopped luxury goods online were found out from online shopping sites, social media groups of online shoppers. From the analysis it has been deduced that perceived risk partially mediates the relationship between perception towards online luxury shopping and online purchase intention.
Keywords
Online Luxury Shopping, Indian Youth Luxury Shopping, Online Purchase Intention, Multiple Regression
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